Friday, February 12, 2021

Dividend Increase #20 & #21 of 2021 - TROW & CSCO

 


Tuesday, February 9th the Board of Directors of T. Rowe Price Group, Inc. (TROW) announced a quarterly dividend increase of from $ 0.9 to $ 1.08 per share that’s payable March 30, 2021 to holders of record March 16, 2021. This represents a 20% increase over the last quarterly dividend.

 

This will mark the 35th consecutive year since the firm's initial public offering that the company will have increased its regular annual dividend.

 

With current price $ 163.20 (yesterday's close), this raise brings their dividend yield to 2.65%.

 

TROW is a Dividend Champions with a 35 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 18.45, 16.4, 11.6 and 12.8 (Dividend Champions.xls)

 

 

Since I own 55 shares of T. Rowe Price Group, this will increase my portfolio's projected annual net dividend income by $ 29.50.

 

This increase was a pleasant surprise, while my expectations were about ten percent.

 

This is the sixth dividend increase I've received from TROW since initiating a position in April 2015. (More here) During the period, the quarterly dividend has risen nicely from $ 0.52 to $ 1.08, or 107.7 percent.

 

This increase raises my YOC to 5.82%.

 

 

 

 



Tuesday, February 9th the Board of Directors of Cisco Systems, Inc. (CSCO) announced a quarterly dividend increase of from $ 0.36 to $ 0.37 per share that’s payable April 28, 2021 to holders of record April 6, 2021. This represents a 2.78% increase over the last quarterly dividend.

 

With current price $ 47.58X (yesterday's close), this raise brings their dividend yield to 3.11%.

 

CSCO is a Dividend Contenders with an 11 year streak of dividend increases. Dividend growth rates for 1, 3 and 5 years are 3.6, 8.2 and 11.8 (Dividend Champions.xls)

 

 

Since I own 195 shares of Cisco Systems, this will increase my portfolio's projected annual net dividend income by $ 5.81.

 

The CSCO's increase was a little disappointing, even though it was the same as the previous time, or $ 0.01 per quarters. However, I expected an increase of about five percent.

 

This is the fifth dividend increase I've received from CSCO since initiating a position in March 2016. (More here) During the period, the quarterly dividend has risen moderately from $ 0.26 to $ 0.37, or 42.3 percent.

 

This increase raises my YOC to 5.04%.

 

 

Summary of 2021 Dividend Increases / Cuts

 

 

Click here to see my portfolio holdings.

 

You can follow the development of my dividends here.

 

Full Disclosure: Long TROW, CSCO

 

Thanks for stopping by!

 

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